E-sports tournament platform Gamerji on Wednesday said it has raised $3 million in a pre-Series A funding round from GVFL (formerly Gujarat Venture Finance Limited) and existing investor Unicorn India Ventures.
The Ahmedabad-based startup will utilize this capital to grow the platform in international markets including West Asia and North Africa, where it launched recently. It also plans to enter the Southeast Asia market starting with Indonesia and Philippines. A part of the funding will go towards developing tech solutions to enhance the online gaming experience, the company said in a statement.
The latest investment takes the total funds raised by the startup to $5 million. Gamerji was founded in 2019 by Soham Thacker, a serial entrepreneur who previously also launched Fixpocket and FantasyJi startups. The company provides a platform for gamers to compete, share content, host matches, build their gaming profile and win prizes.
“Gamerji has had a head start and we have already launched in the Middle East. We are also in the process of rolling out in newer geographies and fresh infusion of capital will help us meet our growth targets ahead of timelines,” said Thacker, chief executive and founder, Gamerji.
In the last 12 months, Gamerji has grown from 1 million to over 4 million users. Currently, the platform hosts more than 400 tournaments a day across 22 titles including BGMI, Free Fire Max, Call of Duty Mobile, Clash Royale, CS:GO among others.
“Gamerji’s vision to provide a platform for amateur gamers as they aspire to become pros is a large untapped market,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures.
“Right from the start, Soham has worked towards this mission and we have seen the merits of it resulting in Unicorn India doing 3 rounds of funding in the Company. And we continue to support Gamerji’s growth story,” he added.
The startup, since its launch in the United Arab Emirates and Saudi Arabia, has added over 100,000 gamers in the region. Its plan is to build a large user base in the burgeoning gaming sector in India and cater to cross-border tournaments in other regions.
“Gaming is one of the fastest-growing industries in India with mobile gaming dominating the sector, accounting for more than 90% of it. Together, we aim to help them expand their footprint and digital presence across the globe,” said Kamal Bansal, Managing Director, GVFL.
Burma Burma
Burma Burma Restaurant and Tea Room, a Burmese vegan restaurant chain, has raised over $2 million in a seed round led by Negen Capital, with participation from Bbigplas Poly Pvt. Ltd.
The latest round is the first funding for the restaurant chain, which was bootstrapped up until now.
The brand plans to use the capital to expand in new cities in the country, as it goes deeper into existing ones. The restaurant chain currently has presence in Mumbai, Delhi, Noida, Gurgaon, Bengaluru, Kolkata among others.
“Nine years in this business, we’ve thoroughly tested all four zones of the Indian market for Burmese cuisine across 6 cities in India,” said Chirag Chhajer, co-founder, Burma Burma, in a statement.
“We are looking at opening 8 new outlets within the next 15 months taking our total count to 14 outlets. With our 450+ member strong team, our next target is to take Burma Burma beyond India, we’re now ready more than ever,” he added
The chain was started in 2014 by Chhajer and Ankit Gupta to make Burmese food more accessible.
"Burma Burma is a good fit for a fund like Negen Capital. Niche, profitable and a very strong brand name, we believe in the food sector of India and its growth trajectory. We are very confident that Burma Burma will be able to scale further with our growth capital,” said Jigar Shah, director, Negen Capital.